Insurance Part Time?

jcarring99

Expert
45
Ok. I'm a teacher/coach that has entertained doing a captive insurance agency or possibly a financial advisor position. As someone very wise told me it would take 100k of income to make up what I'm currently making now. The risk is pretty great to start something new. Someone mentioned doing insurance sales part time. What type of insurance sales could you do part time while being a teacher/coach? Obviously during the summer I would have more time than during the year. I also worry about the legitamcy of doing it part time. How credible can you be selling insurance part time? If that's not an issue what avenue would be worthwhile investigating? I want to do something on the side that can make me some money. Doesn't have to be a lot just something worthwhile and something that I can do to help people.
 
You want a honest answer so I'm going to give it to you.

Dont waste your time trying to do both. You will never make the extra side money you think you will selling it part time.
 
I agree with Mark. Think about it, would you want to be a part time coach who only trained the kinds part time? Do you think the kids would be comfortable with you only working with them when you "had time"?

The only two products I can think of where there is no service work involved, easy to learn and you could do it at your leisure would be Med Supps and FE. They are both easy to learn and could be an "off again on again" product to sell. You still would have to have product knowledge and be an "expert" in what you were selling.
 
I could see working part-time while you learn if you are not needing to make money doing it. But I think it would be just to learn and you would probably lose money or at least not make anything. I am still new and it is VERY hard to try to learn what you are doing, learn products and carriers, market, deal with paperwork & follow-up and see prospects even full-time. But if you had a good attitude and didn't expect to make money and picked the right line, it's possible.

I think my MGA started part-time while working as a policeman.
 
Jcarring it can be done and it's being done now. The biggest issue would be training but as you being a teacher/coach it would seem that you would have a good warm market to go see. You can market life, Fixed, Indexed Annuity, Disability, Long term care, etc products among many others with a Life/Health license it's basically up to pick which products you wish to market.

Shoot me a pm or or send me an email at [email protected] and I will give you a contact person who you can speak with in Texas.
 
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Here is what I would say to you. Wait until the end of the school year and then do it full time through the summer. By the time you get you first three months in you will have some idea of how you will like and if you want to pursue it as a career. In fact you could do this for a couple of summers an d then you should have a pretty good feel for it.
 
I've been a painting contractor for about 18 years and sell insurance part time. I'm seriously considering jumping into insurance full time. It's very difficult to sell part time.
 
I'm not sure what the answer is here. Myself, I am a high energy person and if it were me, it might work (notice I said might) but I don't know you. Do you have kids and/or a spouse? (Because all the spare time you have now will be gone if you want to be successful.) Are you self-motivated? (If not, then forget it.) Do you currently know anyone in the business? (It really helps to have someone you know and trust to mentor you...not to mention that in some states you need a sponsor to even take the exam.) When will you prospect? (Keep in mind that just because you have a ton of potential clients at work, it may not be acceptable for you to market yourself there.) Who will you rely on for your service work? (When a client calls and wants to make a change or has a question about their policy - well, let's just say most people aren't very patient when it comes to that.)

These are just a FEW of the things that require your serious consideration. I hope this helped and wish you much success going forward with whatever path you chooose!
 
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